Tech
Paytm: Warren Buffett-led Berkshire Hathaway exits Paytm, here’s how much the billionaire made
Berkshire Hathaway, the investment firm billionaire Warren Buffet, has sold its entire 2.46 per cent stake in One97 Communications, the parent company of fin-tech company Paytm, for Rs 1,371 crore.
The sale was made through an open market transaction, in which BH International Holdings, an affiliate of Berkshire Hathaway, offloaded over 1.56 crore shares of Paytm on the National Stock Exchange (NSE).
As per the bulk deal data available with the NSE, the company sold 1,56,23,529 shares, representing a 2.46% stake in Paytm.
Berkshire Hathaway sold off all of its shares in an undisclosed company. The shares were bought by Ghisallo Master Fund and Copthall Mauritius Investment, with Ghisallo purchasing 4,275,000 shares and Copthall buying 7,575,529 shares.
The sale was made at an average price of Rs 877.29 per share, resulting in Berkshire Hathaway receiving around Rs 1,371 crore from the transaction.
Berkshire Hathaway International acquired shares at an average cost of Rs 1,279.7 per share, purchasing shares worth Rs 2,179 crore in September 2018. During the IPO, BH International sold shares worth Rs 301.70 crore at Rs 2,150 per share.
In today’s transaction, it sold shares worth Rs 1,371 crore, bringing its total earnings from the Paytm investment to Rs 1,672.7 crore. However, this resulted in a loss of approximately Rs 507 crore, about at a 40 per cent loss.
One97 Communications reported a reduction in their consolidated losses to Rs. 291.7 crore during the second quarter of the current fiscal year. Last year, during the same period, the company recorded Rs 571.5 crore loss.
Paytm’s pre-IPO investors have been selling their shares as the stock recovers. SoftBank has been gradually selling its shares through open market transactions.
The sale was made through an open market transaction, in which BH International Holdings, an affiliate of Berkshire Hathaway, offloaded over 1.56 crore shares of Paytm on the National Stock Exchange (NSE).
As per the bulk deal data available with the NSE, the company sold 1,56,23,529 shares, representing a 2.46% stake in Paytm.
Berkshire Hathaway sold off all of its shares in an undisclosed company. The shares were bought by Ghisallo Master Fund and Copthall Mauritius Investment, with Ghisallo purchasing 4,275,000 shares and Copthall buying 7,575,529 shares.
The sale was made at an average price of Rs 877.29 per share, resulting in Berkshire Hathaway receiving around Rs 1,371 crore from the transaction.
Berkshire Hathaway International acquired shares at an average cost of Rs 1,279.7 per share, purchasing shares worth Rs 2,179 crore in September 2018. During the IPO, BH International sold shares worth Rs 301.70 crore at Rs 2,150 per share.
In today’s transaction, it sold shares worth Rs 1,371 crore, bringing its total earnings from the Paytm investment to Rs 1,672.7 crore. However, this resulted in a loss of approximately Rs 507 crore, about at a 40 per cent loss.
One97 Communications reported a reduction in their consolidated losses to Rs. 291.7 crore during the second quarter of the current fiscal year. Last year, during the same period, the company recorded Rs 571.5 crore loss.
Paytm’s pre-IPO investors have been selling their shares as the stock recovers. SoftBank has been gradually selling its shares through open market transactions.
